Recently, two Ethereum wallets that had remained inactive for nearly a decade transferred 1,140 ETH worth about $2.9 million. These events raise questions about the motivations behind the sudden activity.
Activation of Ethereum Wallets
The wallets with addresses 0x27 and 0x7f were created on July 30, 2015, coinciding with the launch of Ethereum's mainnet. Records on Etherscan show that these wallets received their initial ETH through 'GENESIS' transactions, confirming they were funded at launch. Since then, ETH has appreciated 89,450%, illustrating the significant growth and adoption of Ethereum over the past decade.
Trend of Dormant Wallets Activation
The activation of these wallets is part of a broader trend of long-dormant wallets reawakening. For instance, last week, three Bitcoin wallets that had been inactive for 14 years moved billions in funds. Such movements often trigger speculation regarding their owners and the reasons behind their sudden activity, making them interesting for the crypto community.
Ethereum Technological Upgrades
Meanwhile, the Ethereum ecosystem continues to evolve with recent technological upgrades and governance proposals. On May 7, blockchain developers launched the Pectra upgrade, introducing improvements to smart accounts and enhanced scalability features. Following this upgrade, the price of ETH increased from $1,812 to $2,540. Additionally, Vitalik Buterin and researcher Toni Wahrstätter proposed a gas cap for individual transactions, aimed at improving network efficiency.
The activation of the Genesis Ethereum wallets and the overall trend of reactivating dormant wallets highlight the changes and developments in the cryptocurrency world, which may signal a shift in strategies among major holders.
